*Latest China LNG import data show volumes remain well down year-on-year. May imports of 4.93mn tons compare to 7.03mn tons for May 2022 whilst total 5M 2022 volumes of 26.58mn tons are down 21% year on year.
*Record buying last year saw China surge past Japan as the world’s top importer (MEES, 21 January). But, as LNG prices surged to record levels at the start of 2022 and remained high since (MEES, 17 June), Japanese demand has proved more resilient than that of China. Though Japan’s 5M 2022 imports are down 5% year-on-year, this relatively modest slump means Japan has again ‘overtaken’ China as the world’s top importer with volumes above those of China for each of the past four months (see chart). (CONTINUED - 377 WORDS)